Consumer Bureau Official Seeks to Ease Bankers' Fears

By

Maya Jackson Randall

Updated June 14, 2011 5:23 p.m. ET

ORLANDO—A top official at the new U.S. consumer-protection agency sought Tuesday to ease banking-industry fears about the bureau, saying the agency will be very deliberative as it writes new rules and voicing confidence that it can improve markets for both companies and consumers.

The Consumer Financial Protection Bureau, a key plank of the Dodd-Frank financial law Congress passed last year, is set to open its doors next month as a new financial-markets cop. The agency will have broad powers over financial firms,...